September 22, 2021

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Every Bitcoin mined requires 13 years of electricity for ordinary households

Every Bitcoin mined requires 13 years of electricity for ordinary households

Every Bitcoin mined requires 13 years of electricity for ordinary households

 

How much electricity does Bitcoin mining consume: every bitcoin mined requires 13 years of electricity for ordinary households.


A recent study shows that Bitcoin mining consumes about 91 terawatt-hours (trillion watt-hours) of electricity each year, equivalent to about 0.5% of the total global electricity consumption, which exceeds the electricity consumption of 5.5 million people in Finland , Is more than seven times the electricity consumption of Google’s global business.

In the past 5 years, the power consumption of Bitcoin mining has increased tenfold.

As the price of Bitcoin has risen sharply in recent years, it is not difficult to predict that Bitcoin’s power consumption will continue to grow. As competition intensifies, Bitcoin mining has become an independent industry that requires specialized machines, servers, and huge data centers. These data centers need sufficient cooling capacity to prevent computers from overheating.

The mining process itself has become more complicated. In 2011, a desktop computer could easily mine Bitcoin, when this cryptocurrency did not have many followers. Now, it takes about 13 years of electricity consumption for an average household to mine a bitcoin.

In the context of the global flooding, virtual currencies have the meaning of making a comeback. Earlier today, Bitcoin has exceeded US$52,000.

Maintaining a consistent trend with Bitcoin, other currencies have also seen rising prices in the past two days. Among them, the price of XRP reported $1.33, an intraday increase of 6%; BCH quoted $767, an intraday increase of 8%.

 

Every Bitcoin mined requires 13 years of electricity for ordinary households

 

 


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